Russia's international reserves increased to an all-time high of $600.7 billion by August 7 from $591.8 billion on July 31, the country's central bank said in a statement on Thursday
MOSCOW (Pakistan Point News / Sputnik - 13th August, 2020) Russia's international reserves increased to an all-time high of $600.7 billion by August 7 from $591.8 billion on July 31, the country's central bank said in a statement on Thursday.
Previous all-time high of $598.1 billion was set on August 8, 2008.
"As of August 7, international reserves amounted to $600.7 billion, up $8.9 billion, or 1.5 percent, over the week, driven by positive exchange rate revaluation and higher gold prices," the statement says.
Russia's international reserves include foreign assets with highest liquidity held by the Bank of Russia and the government. Reserves include monetary gold, special drawing rights (SDRs), a reserve position in the International Monetary Fund (IMF) and cash in foreign currencies.
Last year, Russia's international reserves increased by 18.3 percent to $554.4 billion as of January 1, 2020.
